Jump to content
  • 0
Sign in to follow this  

Ask our MT4 expert: IGs 'Head of Integrated Trading Platforms'

This thread contains an account type known as "Limited Risk". Due to regulatory changes this account type no longer applies for European countries. If you have any questions relating to this, or wish to continue the discussion, please start a new thread. 

Message added by JamesIG

Question

How the "Ask our expert" Community posts work

 

2017-09-18 16_01_00-124380_ IG MetaTrader 4 Terminal - [uSDJPY,H4].pngFor this IG Community feature we wanted to offer all clients, new or old, the opportunity to ask any MT4 questions directly to Tim Plummer, our ‘Head of Integrated Trading Platforms’. Please leave any query you may have in the comments below and Tim will be able to reply directly.

 

This feature will be available on IG Community between the 18th – 29th September and throughout the trading week we’ll aim to get all questions answered within 24 hours. After the two week period has finished the thread will remain available, however regular mods and other Community members will reply to any questions. I have also included a few FAQ and information pointers at the bottom which may help if you are a newer client to IG. If you would like more information regarding MT4 and trading with IG on leverage, please visit the appropriate links. If you don't have an IG account, please visit IG.com

 

 

All trading involves risk. Losses can exceed deposits.

 

 

Trading Cryptocurrencies on MT4

 

MetaTrader4, also known as MT4, is a popular trading platform which is most commonly associated with Forex trading. You can use MT4 software to integrate with IG, and deal on leveraged FX as well as a few additional markets such as major indices, gold and silver, and also US and UK oil. We have recently added Cryptocurrencies such as Bitcoin and Ether to the MT4 software to further extend our offering.

 

Tim has a very in depth working knowledge of MT4 and was a driving force behind the addition of Bitcoin and Ether to the platform. In his own words:

 

 

“We are pleased to announce that we have launched Crytocurrencies on MT4.

 

This opens up the horizons for many traders that want to take advantage of this new and cutting edge market without the necessity of using exchange wallets. With MT4 you not only get to use a wealth of technical indicators to help build your strategy, but you can also build or buy algorithms to help execute your strategy. With IG’s MT4 you get access to institutional grade liquidity and pricing while being safe in the knowledge that you are with a broker you can trust that has been in the industry for over 40 years.

 

You can also use the IG MT4 apps to really get the most out of Meta Trader. You can use the alarm manager to help strengthen your risk management, the trade terminal to manage multiple positions as well as your account and the Mini Terminal for you to be able to manage trades quickly and efficiently.

 

As we said earlier, MT4 has the ability for you to automate your trades so that you can capitalise on market shocks and react to the major moves without being at your PC using Expert Advisors (also known as EA’s).

 

If you currently trade MT4 elsewhere we invite you to put us to the test.”

 

 

If you already have MT4 downloaded you will need to make sure you make these new markets visible. Simply right click in the Market Watch area and select ‘show all’. You will then see the BTC and ETH pairs. If you are having any issues, please let us know in the comments below.

 

 

An introduction to MT4

 

If you have a live IG account you can add MT4 via My IG, which will set up your new sub account and provide you a download link. If you already have an MT4 account with IG but would like to download the software again, you can do so here. Alternatively you can visit the Meta Trader 4 website directly, and then use the IG server information to connect to IG.

 

 

mt4 pairs.png

 

mt4.png

 

There are a couple of methods for trading; either you can download the software and deal in real time, or set up an automated trading system which you can code yourself or load from third party providers. Further to this there are a couple of other important functions of MT4:

 

  • The software is highly customisable, and if you download via IG you’ll receive 18 plugins to help with your strategy. A range of apps can be used and downloaded to improve charting and functionality.
  • The software is downloaded, rather than web browser based, which some clients prefer. The software will also be the same, irrespective of which broker you had before.

 

  

MT4 is only available for Windows and there are no plans to release this to Mac OS. There are both Apple iOS and Android applications which can be downloaded from the relevant online store. If you have a mobile app you’ll need to create an account via the desktop computer, receive your login details, and then switch over to the app where you can find IG’s server by typing in IG-Live.

Share this post


Link to post

12 answers to this question

Recommended Posts

  • 0

HI,  Thanks for the IG MT4 extra apps, I use a number of them and generally find them very helpful. It would be useful if there was a page on the web site explaining what they do and the different inputs that can be changed on them though.

 

I have problems with the IG Bar Changer, I am presuming this is a period converter similar to the one that comes with MT4 in the scrips section of indicators (which needs re-activating on every start up).

With the IG version when I try to convert a 1 min chart to a 3 min, I find and open the 3 min in the offline table and the 3 min chart opens ok and is live but when I then apply a template to the new chart the whole platform freezes.

 

I was assuming (but may well be wrong) that the  'Time frame for offline chart' should be 3 (min) and that the 'shift bar times' should be +2 min for the above example.

As well I wondered if my template needs to be stripped of indicators before applying?

Also, is it possible to convert higher timeframe charts on an hourly basis?

 

Thanks again.

 

 

 

bar changer.PNG

 

Share this post


Link to post
  • 0

1) What about guaranteed stops (GS) on a standard MT4 account is it something possible?

 

2) Is it possible to use GS with a MT4 limited risk account?

i suppose with a limited risk account all the stops are GS?

 

3) I dont see bitcoin on demo mt4 so i cant test size and margin

whats is the minimum positionsize and margin requirement for bitcoin on a live mt4 account?

 

if bitcoin trade at 3950 then min tradesize would be 0.01 and value for the position 3950 USD?

what would the margin be for that?

 

 

 

Share this post


Link to post
  • 0

 - I just need to double check a couple of things to fully answer your question, however I will be able to reply to you later today. Thanks for the question! 

 

 - Thanks for your questions relating to MT4. 

 

Currently you can have Guaranteed Stops on MT4, however this is only possible if you have one of our Limited Risk accounts which will force all positions to always have a guaranteed stop. Currently you can't toggle on/off the guaranteed stop option for a regular account on a position by position basis (although we are looking at this - we currently don't have a road map in place).

 

Cryptos are not currently on MT4 Demo although we are getting them added. They should be available by the end of the week, however due to some other priorities running simultaneously, it maybe the start of next. 

 

Tier 1 margin requirements for bitcoin will be 12.5% which means that 0.01 lots on a CFD account when BTC is priced at 3950 will have a margin of $493.75 ($100 lot size x 0.01 number of lots x BTC price of 3950 x 12.5% margin)

Share this post


Link to post
  • 0

Thanks for your feedback  regarding the apps. The one that has been the most post popular is the Trade terminal as it has some tools that allow you to better manage your account from a risk perspective and even helps to automate trading discipline where you can  have alarms based on performance.

 

As for the bar changer you can only look to use smaller values to make the larger timeframes, not the other way round, as the tool would not be able to determine the high and low fairly.

 

With regards to the issue you mention when it freezes are you still seeing prices update in the market watch or does the whole platform become unresponsive? If it is the latter as you suggest removing indicators first should help and then you can apply them after as that may reduce the impact of the indicator calculation.

 

I hope that helps and as always if you have any more feedback about the platform I would love to hear about it.

Share this post


Link to post
  • 0

Hi  &   Desperately need US Treasures (pref. 10 year) and US Dollar Basket on MT4.

 

For both FX and Equities markets they are both essential leading market indicators.

 

I appreciate you are routinely adding more markets to your new MT4 platform but really need to add these two market staples.

Also awaiting more Hx (history) on Bitcoin.

 

The MT4 platform is excellent, but would be even better with these more diverse markets added for cross referencing. 

 

Your good work is much appreciated. 

 

 

 

 

Share this post


Link to post
  • 0

Hi  thanks fro your suggestion. I'll speak to Tim on Monday and see what options are available / whats on the road map. I'll ask tim to drop you a message. cheers

Share this post


Link to post
  • 0

Hi ,

 

Thanks for the feedback, and as always it is very much appreciated.

 

We do indeed have a number of markets in the pipeline to launch on MT4, with Dollar index one of them. We have not planned any US treasuries just yet, although we hope the Bund will be online soon. With that said I will be sure to pass on the point you have made to the trading desk. As for the Cryptocurrency history I will speak to the MT4 team about getting this back dated as well as it somewhat mutes the value of technical analysis if there is not enough history.

 

Thanks again for sharing ideas and if you, or anyone else for that matter, have any thoughts they would like to share on our MT4 offering then get involved!

Share this post


Link to post
  • 0

Hi, since your previous post I have been trialling the Trade Terminal and find it is a big improvement over the Mini Terminal. The mistake I made when I first looked at it was not realising I needed to sort my 'watch list' out first other wise it loads everything and grinds to a walk. Also undocking it so it can be moved to a more convenient position.

It would be even better if there was an Account History tab as on the basic MT4 Terminal section and the ability to close the trade on the chart as on the mini terminal would also be a benefit. 

 

Nothing is without a few bugs and noticed this popped up this morning (not actually on my watch list at the moment), a bit worried about that spread though ;)

 

mt4.PNG

  

 

Share this post


Link to post
  • 0

Hi   A nasty false spike occurred on the EURGBP chart yesterday at 17:15 and I can't get rid of it even by deleting chart and resetting. Causes knock-on problems such as ATR levels etc.

 

EURGBP(£)M15.png

 

 

Share this post


Link to post
  • 0

Thanks for notification on this  - I've let Tim know and I'll try and get this sorted ASAP. 

Share this post


Link to post
  • 0

Hi James,

 

I've just downloaded ProRealTime myself, setting up a scan for the first time so bare with me on this one, couple of things below for you to answer if you don't mind.

 

1. How do I select the FTSE100 or 250 (specifically) as I only see UK - Shares (this brings up too much ***** shares which leads to my next question).

2. how do I add a price parameter in? i.e. only bring back shares between £10-£50? 

3. I've added 3 EMA's and in the scan making sure they are greater than previous period of price, how do I get this to run so that it brings back stocks in a specific EMA order, for example a 10 day EMA/ 20 Day EMA and a 50 Day EMA but I want this to only bring back stocks where the 10 is top, 20 2nd and 50 last so it's not bringing back stocks with the 50 at the top etc? 

 

Thanks in advance!

Steve

Share this post


Link to post
  • 0

Hi  thanks for your message. Sorry that this has taken a couple of days to reply to. Unfortunately our head of integrated trading solutions isn't available for the 'ask an expert' feature, however I can see that  has assisted you in another thread. I hope the conversation can be continued there if required. 

 

I shall be locking this thread to avoid any confusion for other community members going forwards. Cheers. 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Answer this question...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      8,089
    • Total Posts
      44,719
    • Total Members
      55,733
    Newest Member
    Nobility2020
    Joined 24/02/20 11:02
  • Posts

    • Still nothing, even on mobile 
    • Off topic related to Caseynotes previous post. http://www.centerforhealthsecurity.org/event201/videos.html   October 2019...is Johnson&Johnson a firm buy?🤔🤔
    • It started off with a vision to revolutionise British banking, intent on disrupting the stagnant high street banking industry by enhancing service levels and investing in state-of-the-art IT software. But now Metro Bank (MTRO) is in turmoil. Not only have five of the challenger bank’s founding directors left within the last year but the firm also pulled a £250 million bond sale citing ‘poor market conditions’, despite offering a yield of 7.5%. As a result, Metro Bank’s share price has tumbled -90% since floating at 2000 pence per share in 2016. The table below shows that Metro Bank’s share price has been the fifth most volatile amongst shares in the FTSE All-Share Index, which captures 98% of the UK’s market capitalisation. Figure 1. Top ten most volatile UK shares over the 360 days Equity 360-Day Volatility (%) 1. Indivior PLC (INDV) 140.795 2. Tullow Oil PLC (TLW) 123.499 3. Kier Group PLC (KIE) 104.882 4. Sirius Minerals PLC (SXX) 99.478 5. Metro Bank PLC (MTRO) 97.377 6. Intu Properties PLC (INTU) 92.466 7. Amigo Holdings PLC (AMGO) 86.754 8. NMC Health PLC (NMC) 81.446 9. Ted Baker PLC (TED) 80.78 10. Allied Minds PLC (ALM) 79.991 Source: Bloomberg, February 2020 If at first you don't succeed, try, try again Failing to secure funding in September last year was a huge blow to Metro Bank as it needed to raise finance to meet the Minimum Requirements for own funds and Eligible Liabilities (MREL) regulation by January 2020. MREL intends to ensure firms have the capacity to take on losses so that they can fail safely, removing the need for public funding. The bank went back to the market in October with an enhanced offer: that they would remove Vernon Hill, the chairman of Metro Bank, and a higher coupon of 9.5%. Metro Bank managed to secure the £350 million it required, but at a large cost. An accounting scandal revealed in January last year was another reason why bond investors demanded such a yield. Analysts have since raised their concerns about the constraints the business faces due to the bond terms at their third quarter results, to which David Arden, chief financial officer (CFO), responded: 'I fully accept that the cost was somewhat elevated, but I think it was the right thing to do for the long term of the bank.' A recipe for disaster: rising costs and subdued growth Whilst Metro Bank has satisfied MREL regulations, for now, there are still difficult times ahead with rising operating expenses, potential fines by two regulators and, as outlined previously, substantial costs to finance their recent debt issue. The lender is still under investigation from the Financial Conduct Authority (FCA) over its reporting scandal in January last year whereby it miscalculated loans in risk terms, consequently overstating its capital ratios. As a result, investors have been warned that Metro Bank could potentially face financial penalties which could well be 'significant'. Adding to this, the bank is also being scrutinised by the Prudential Regulation Authority (PRA) in a separate investigation. Operating costs that are higher than average in the industry is part and parcel of Metro’s business model. The bank’s core mission is to 'change the way Britain banks' by offering customers access to its branches (now 70 in total) seven days a week. It is this that creates a huge dilemma for Metro. Costs need to be reduced, even more so due to its recent bond issue, but equally the bank must stick to its promise that made customers switch over to them in the first place. In conjunction with this, the firm needs to grow in order to return to profitability which in itself is a significant challenge in the current low interest rate environment. To achieve growth Metro Bank will need to battle on two fronts, against the 'big four' on the high street and the influx of new wave digital banks online. The graph below illustrates the consequence of Metro’s strategy. It displays the cost to income ratio, a measure commonly used to compare banks, for Metro Bank and the FTSE All-share Banks Index (Ex-Metro). We can see that Metro’s higher operating cost base has consistently resulted in a greater cost to income ratio than the average of its peers. Having said this, Metro Bank has recognised the need to focus on cost efficiency and has managed to reduce this ratio in Q3 2019. Encouragingly, the improvement occurred despite adding three new stores during the quarter as well as developing further sites in Liverpool and Manchester – the firm is sticking to its core mission. Figure 2. Cost to Income Ratio: Metro Bank vs FTSE All-Share Banks (Ex-Metro) Source: Bloomberg, February 2020. Virgin Money and Close Brothers Group have been omitted from Index average due to insufficient data Potential for a short squeeze? The market is not optimistic that the challenger bank can turn its fortunes around. Currently, Metro Bank is the sixth most shorted stock in the UK of all short positions that have been disclosed under short selling regulations set out by the FCA, with Premier Oil PLC (PMO) topping the list(1). Note, the requirement to publicly disclose short holdings is when the position concerned equates to 0.5% of total shares outstanding. Still, this is a good indication as to how popular a share is to short. The combined position of the six funds that have reported a short position in Metro equates to -9.59% of total shares outstanding, after Voleon Capital Management recently registered its bet on the company share price to fall on 17 February 2020. It comes after well-known hedge funds Odey and ENA added to their short positions at the start of 2020, with both having had short exposure for over a year. Figure 3. Disclosed short positions in Metro Bank Fund Shares outstanding (%) Reported date 1. ENA Investment Capital LLP -3.22% 05/02/2020 2. Odey Asset Management LLP -2.62% 14/01/2020 3. Marshall Wace LLP -1.38% 29/01/2020 4. Connor Clark & Lunn Investment Management -1.22% 05/09/2019 5. Voleon Capital Management LP -0.62% 17/02/2020 6. Samlyn Capital LLC -0.53% 05/06/2019 Source: Bloomberg, February 2020 Metro Bank 2020 results preview Since listing in March 2016, we have seen a steady decline in the percentage of analysts whom have issued a buy recommendation. The chart below depicts this, as well as the sharp decline in Metro Bank’s share price. The most recent consensus indicates a twelve-month target price of 232.33 pence, calculated from fourteen different analysts. Its share price closed at 205.2 pence on 20 February 2020. Source: Bloomberg, IG, February 2020 Rumours have been circulating since last year, after its reporting miscalculation, that Metro Bank was considered as a takeover target for several large private equity firms. The Financial Times reported at least six takeover firms contemplated whether it would make economic sense to buyout the bank(2). One analyst at Metro’s Q3 results posed this question directly to the leadership team to which they didn’t give anything away but did outline 'should something occur, we will treat it with the right respect because that's the fiduciary duty of the board'. An update on plans to balance growth and cost efficiency will be communicated during its full year results on the 25th February 2020. You can invest in any of the shares mentioned in this article with IG from as little as £3, our newly reduced fee, on the IG share dealing platform. Open a share dealing account. You can open an IG account within a few minutes. Fund your account. Our minimum deposit is £250. Place your first trade. Open our platform and trade over 10,000 shares available through IG. 1. ShortTracker 2. Financial Times This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
×
×